Jobs index all but points to slower growth

The federal government's leading employment index fell in August and is now on the brink of pointing to slower jobs growth.

The fall in August followed only a slight rise in July and five consecutive monthly falls immediately before then.

The leading jobs indicator anticipates movements in the growth cycle of employment, with a turning point confirmed after six consecutive monthly moves in the same direction.

The indicator of employment fell 0.011 index points in August to minus 0.094 points.

"This is close to a confirmation that employment is likely to continue to grow more slowly than its long-term rate of 1.5 per cent per annum over coming months," the Department of Education, Employment and Workplace Relations said in a statement.

The indicator has four weighted components: ANZ Newspaper Job Advertisements, Dun and Bradstreet Employment Expectations, the Westpac-Melbourne Institute Leading Index of Economic Activity and the Westpac-Melbourne Institute Consumer Sentiment Index.

Official labour force data for July will be released on Thursday.

Economists expect the number of people employed grew by 10,000 in July compared to June but with the jobless rate rising to 5.8 per cent from 5.7 per cent previously.